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QBO ADVANCED HIT 165K SUBS Featured

QuickBooks Advanced reached 165,000 customers in Intuit’s last year, the company has said. The figure for Intuit’s cloud mid-market ERP entry represented 40-percent year-over-year growth when the year ended on July 31.

The number was given in a presentation at the software company’s Investor’s Day in September, once again proving it is a good idea to sit through the lengthy presentation and carefully read the slides. Intuits presentation showed it is likely to use the mid-market customers who are using lower-market products as candidates for Advanced, noting it has 700,000 “mid-market customers using Core QBO and Desktop SKUs in the US, Canada, UK, and Australia.” Over-all, Intuit reported 5.9 million QBO subscribers at the end fo fiscal 2022. But QuickBooks revenue continued to show growth, rising  16.9 percent to $312 million for the first quarter ended October 30. from $267 million a year ago. Growth was driven by sales of the desktop mid-market product, QuickBooks Enterprise. Intuit said its revenue grew by “mid-single digits”, a figure that has also described growth in past quarter

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